- Rox Resources (RXL) and its joint venture partner Venus Metals (VMC) have found more exceptional gold grades from the Youanmi Gold Project
- Both companies recently conducted a series of reverse circulation holes to test a new zone of mineralisation
- Drilling along this new zone intersected spectacular grades of up to 123 grammes per tonne of gold
- Rox’s share price is up a steady 15.8 per cent with shares trading for 2.2 cents apiece
Rox Resources (RXL) and its joint venture partner Venus Metals (VMC) have found more exceptional gold grades from the Youanmi Gold Project.
Results come from the drilling campaign at the joint venture which forms part of the wider Youanmi project area.
Drilling finished on December 20 with a significant amount of samples, 1500 metres, still in the process of being assayed.
The joint venture recently conducted a series of reverse circulation holes to the north of drill hole MLRC020 to test the continuity of new zones of mineralisation intersected in that hole.
Drilling beneath and along strike from this new zone of mineralisation has intersected spectacular grades and has defined a southerly plunging lode system on a steep westerly dipping structure.
Interpretation is ongoing, however, both Rox and Venus are highly encouraged by the tenor of these intercepts and the joint venture will be undertaking follow-up drilling in 2020.
Significant results of 3 metres at 123.66g/t gold from 2 metres, 5 metres at 77.03g/t gold from 1 metres, and 2 metres at 57.25g/t gold from 7 metres were intersected.
While still in the early stage, these results are considered highly encouraging.
In historical mine records there is reportedly free-milling gold mineralisation present within the Youanmi granite to the east of the Main Lode Shear Zone.
“We are very pleased to report these follow on high-grade results and look forward to providing further information once interpretation of the results has been completed,” Managing Director Alex Passmore commented.
Rox’s share price is up a steady 15.8 per cent with shares trading for 2.2 cents apiece at 12:20 pm AEDT.